Although solar panel prices have decreased significantly in the last decade, the revenue and growth of the largest solar manufacturers in the world have only increased.
The International Energy Agency (IEA) projects that solar photovoltaics (PV) will account for a massive 80% growth in global renewable capacity by 2030 thanks to global efforts to boost energy security and lower emissions.
At the forefront of this evolution stands innovative solar manufacturers who continue to push the boundaries of solar panel technology. But who are the largest solar manufacturers in the world based on the number of shipments?
Quick Takeaways:
- China is home to the largest solar manufacturers in the world
- Tongwei Solar is the largest solar manufacturer in the world, followed by Jinko Solar
- Factors that contribute to their dominance include scales of production, vertical integration, government support, research and development, competitive pricing, and quick adaptation to market dynamics
Who are the Largest Solar Manufacturers in the World?
1. Tongwei Solar (TW Solar) – 65.5 GW in shipments
Tongwei Solar takes the top spot among the largest solar manufacturers in the world. According to Statista, the manufacturer shipped around 65.5 gigawatts (GW) of solar panels in 2023.
Tongwei Solar is a division of the larger Tongwei Group. It entered the solar panel market in 2006 and has experienced rapid development, making it an integrated solar PV enterprise.
The company features upstream high-purity polysilicon production, high-efficiency solar cell and module production in the midstream, and downstream solar power plant construction and operation.
TW Solar has six bases in China and an annual cell capacity of over 70 GW. The company exports its PV products to over 40 countries and regions worldwide, with top destinations including Germany, the UK, the US, France, and Australia.
2. Jinko Solar – 60.2 GW in shipments
Jinko Solar misses the top position by around 5.3 GW despite consistently ranking at the top thanks to its massive manufacturing capabilities and efficient distribution networks. According to Statista, Jinko Solar shipped around 60.2 GW of solar panels in 2023.
Founded in 2006 as a wafer manufacturer, Jinko Solar has firmly established itself as a vertically integrated PV enterprise capable of producing polysilicon wafers, cells, and modules.
The company has 14 manufacturing bases in China, Vietnam, Malaysia, and the US and a presence in over 160 countries, underscoring its influence in emerging and established markets.
The company is known for its cutting-edge solar panels, like the Tiger Neo series, which incorporate advanced N-type TOPCon technology. This innovation enhances efficiency while reducing degradation over time. Jinko has also adopted green manufacturing practices to minimize environmental impact.
Its vertically integrated business model ensures high-quality standards and cost efficiency, helping the company maintain its position as one of the largest solar manufacturers in the world.
3. LONGi Green Energy Technology – 58.4 GW in shipments
LONGi Green Energy Technology takes third place among the largest solar manufacturers in the world. In 2023, the company had 58.4 GW in shipments, making it a prominent player in the solar energy industry.
Founded in 2000, LONGi has grown to be a Tier 1 solar module manufacturer with a high AAA financial rating and over 60,000 employees. The company focuses on monocrystalline solar products, with its expertise helping push the boundaries of efficiency while contributing to cost reductions that make solar energy more accessible.
LONGi’s commitment to research and development is evident in its consistent breaking of world records for cell and module efficiencies. In May 2024, it set a new world record by announcing new silicon cells with an efficiency of 27.3% under laboratory conditions. The company manufactures its products in China, Vietnam, and Malaysia.
4. Trina Solar – 55.9 GW in shipments
Trina Solar has been a pioneer in the solar industry for more than two decades. Founded in 1997 in Gao Jifan, China, the company shipped around 55.9 GW of solar panels in 2023.
The company offers high-quality PV products and innovative solutions, such as the Vertex series of ultra-high-power modules. These panels are designed for utility-scale projects, offering power outputs of over 600 watts.
Trina’s success is bolstered by its focus on smart solar solutions, including its integrated energy systems that combine PV modules with storage and intelligent monitoring tools. This approach caters to the growing demand for comprehensive energy solutions in residential and commercial markets.
Trina Solar’s extensive global reach is a crucial driver in its shipment volumes. The company has installations in over 100 countries and continues to expand its footprint through strategic partnerships and projects.
5. JA Solar – 51.2 GW in shipments
JA Solar is another Chinese giant that has made a name for itself with high-performance PV products that balance efficiency and affordability. Founded in 2005, the company had around 51.2 GW of shipments in 2023, placing it in the 5th place among the largest solar manufacturers in the world.
JA Solar has 12 manufacturing bases and over 20 branches globally. Its product range includes monocrystalline, polycrystalline, and high-power modules for utility-scale projects like PV power stations. JA Solar has also been at the forefront of adopting half-cell technology, which boosts panel performance by reducing resistive losses.
JA Solar’s DeepBlue series is top-rated for its high efficiency and durability under extreme conditions. By investing heavily in innovation and emphasizing research and development, the company ensures its products meet the evolving demands of the solar market.
6. Aiko Solar – 36.8 GW in shipments
Shanghai Aiko Solar Energy is a leading company in new energy technologies. It primarily focuses on the research and development, manufacture, and sales of solar cells. In 2023, Aiko Solar had around 36.8 GW shipments.
The company also manufactures PV products and integrated solutions for solar energy storage and usage, including inverters and mounting systems. In 2023, the clean look of Aiko’s N-Type ABC (All Back Contact) module earned the company a Red Dot Award. The modules are made from monocrystalline silicon and can reach a 24% conversion efficiency.
Aiko operates multiple manufacturing facilities in China, enabling it to meet the growing demand for high-quality solar cells. Due to its focus on cell production, many manufacturers also depend on Aiko’s cells, cementing its place as one of the top solar manufacturers in the world.
7. Canadian Solar – 30.7 GW in shipments
Canadian Solar was founded in 2001 in Ontario, Canada, and has subsidiaries in over 24 countries on six continents. The company manufactures solar PV modules and supports solar energy installations and various utility-scale power projects. In 2023, Canadian Solar had around 30.7 GW in shipments.
The company’s HiKu and BiHiKu series modules are famous for their high efficiency and durability. These products are designed for residential and commercial applications, making Canadian Solar a versatile option for various energy needs.
Canadian Solar set itself apart with its strong project development team. The company has completed numerous solar power plants worldwide, showcasing its expertise in end-to-end solar solutions. This diversified approach contributes significantly to its shipment volumes and overall market share.
8. Astronergy – 19.5 GW in shipments
Astronergy is part of the Chint Group and has gained recognition for its high-quality PV modules and commitment to innovation. The company had around 19.5 GW in shipments in 2023, with the shipment volume growth attributed to its strategic focus on large-scale projects and strong presence in key solar markets.
The company’s Astro series modules, which feature advanced bifacial technology, are designed to capture sunlight from both sides, boosting overall energy output. Astroenergy has also completed numerous utility-scale installations, earning a reputation as a reliable partner for large energy projects.
Astroenergy is also a strong champion of sustainability and has made efforts to reduce the carbon footprint of its manufacturing processes. Its commitment to environmental stewardship aligns with the broader goals of the renewable energy industry.
What Factors Have Helped the Companies Become the Largest Solar Manufacturers in the World?
Scales of Production
One of the most significant factors is their large-scale production capabilities. These manufacturers operate massive facilities with vertically integrated operations, controlling the entire manufacturing process from silicon wafer production to final module assembly.
Such scales of production allow them to meet the growing global demand for solar products and maintain a steady supply to various markets. For example, Jinko Solar and LONGi have built multi-gigawatt production facilities capable of producing tens of gigawatts (GW) of modules annually.
Vertical Integration
Vertical integration gives these manufacturers better control over their products’ quality and reduces costs by streamlining the supply chain. Companies like Tongwei and LONGi have integrated operations that include everything from raw material procurement to module assembly, ensuring reliability and consistency.
Vertical integration reduces costs by avoiding third-party suppliers. It also enhances control over production timelines and standards and allows the companies to innovate across the entire production process.
Research and Development
Innovation is a cornerstone of the top company’s growth. Leading manufacturers invest heavily in research and development initiatives to improve panel efficiency, reduce costs, and enhance durability. By developing cutting-edge technologies, these companies set themselves apart from competitors.
Some examples include Jinko Solar’s Tiger Neo series with N-type TOPCon technology, JA Solar’s use of half-cell technology for higher efficiency, and LONGi’s groundbreaking Hi-MO modules with record-breaking efficiency.
Global Distribution Networks
Having a strong international presence enables these companies to cater to diverse markets. To expand their reach, they establish regional offices, distribution centers, and partnerships.
Such global strategies ensure they remain competitive in established markets like North America and Europe and emerging markets like the Asia-Pacific, Africa, and Latin America.
Competitive Pricing
Economies of scale and cost efficiencies from vertical integration allow these manufacturers to offer competitive pricing. Increased affordability makes solar technology accessible to a broader audience, fueling worldwide adoption.
Companies like Trina Solar and Risen Energy produce affordable, high-power, reliable modules that strike a balance between quality and cost.
Technological Leadership
By consistently pushing technological boundaries, these manufacturers stay ahead of market trends. Technologies like bifacial modules, heterojunction (HJT), and PERC cells have revolutionized solar performance, ensuring higher energy yields and longer lifespans.
Focus on Sustainability
Sustainability initiatives enhance the reputation of these manufacturers. By adopting green manufacturing processes and committing to carbon neutrality, they appeal to environmentally conscious customers and investors.
LONGi and Astronergy try to achieve carbon neutrality in their operations, reinforcing their commitment to renewable energy.
Strategic Partnerships and Projects
Engaging in large-scale solar projects, utility installations, and partnerships with governments and corporations boosts visibility and credibility. These projects often lead to repeat business and long-term contracts.
Canadian Solar’s extensive project development team has delivered numerous solar power plants globally, while Trina Solar is involved in utility-scale installations across continents.
Diverse Product Portfolios
A broad range of products allows these companies to serve various customer segments, from residential to commercial and utility-scale applications. Their diversified offerings also enable them to adapt to specific market needs.
Strong Financial Backing
These companies’ financial stability ensures they can invest in capacity expansions, R&D, and marketing. It also allows them to weather fluctuations in the solar market, such as changes in policy or raw material costs. They can expand production capacity quickly and consistently invest in new technologies and sustainability initiatives.
Adapting to Market Dynamics
Leading manufacturers excel at adapting to changing market demands, such as the growing emphasis on energy storage, smart solar solutions, and hybrid systems. Their ability to evolve ensures they remain relevant in a competitive landscape.
Trina Solar’s smart energy solutions combine solar panels with storage and monitoring tools, while JA Solar focuses on high-performance modules for utility-scale projects.
Government Support and Policies
Government incentives and subsidies in key markets like China, the US, and Europe have provided a conducive environment for growth. Leading manufacturers have leveraged these policies to scale their operations and increase market share.
As home to most of the largest manufacturers, China’s government policies support renewable energy and play a pivotal role in their rise.
Final Thoughts on the Largest Solar Manufacturers in the World
The majority of the largest solar manufacturers in the world are from China. This is mainly due to their large production scales and easy access to raw materials, which allow vertical integrations, scalability, innovation, and global expansion. Competitive pricing, government support, and the ability to balance quality with affordability also ensure their continued leadership in the rapidly growing solar industry.
Sources and References
- https://www.iea.org/news/massive-global-growth-of-renewables-to-2030-is-set-to-match-entire-power-capacity-of-major-economies-today-moving-world-closer-to-tripling-goal
- https://www.statista.com/statistics/269741/the-biggest-solar-module-manufacturers-worldwide-based-on-production/#statisticContainer
- https://www.longi.com/en/news/longi-hi-mo9-bc-world-record/
- https://www.red-dot.org/project/abc-modules-63670